Property Views

[3Boys]

Instead of the what’s, maybe we need to look at the why’s.


Over the decades, the whole concept of subsidised housing has been perverted beyond the point of recognition. The gahmen itself can take the ‘blame’ for raising expectations, and now they are riding a tiger they can’t get off from.

Philosophically, what exactly is subsidised housing (aka HDB) supposed to serve as?

A platform to extract a subsidy from the gahmen?

An asset you can monetise as a springboard to private property?

An investment vehicle for you to generate income?

Or

A means to good affordable housing for those who cannot afford it otherwise?

I suggest the last point is what it had started out to be and what it needs to get back to being.

Why are folk being tied up in knots now? Because we had tried to play public housing for what it was not intended to be. Problem is, the public housing subsidy is so pervasive that one would be at a competitive disadvantage not to have made use of it, and many people had, regardless of whether they could afford private housing or not.

Nothing fair or unfair about it. We were exploiting a loophole to the general detriment of the housing market and possibly contrary to financial prudence, and now the loophole is closed, cue howling and teeth-gnashing.

Not the what’s and how’s, but the why’s…

[radiantmum]

I’ve known a lot of people, my friends included, whom overstretched to upgrade, banging on the low neglible cost of borrowing and the ability to stretch the loans to long/maximum number of years & for some, irrational faith that property prices will not fall in Singapore.

[mum2one]

3Boys:

Instead of the what's, maybe we need to look at the why's.


Over the decades, the whole concept of subsidised housing has been perverted beyond the point of recognition. The gahmen itself can take the 'blame' for raising expectations, and now they are riding a tiger they can't get off from.

Philosophically, what exactly is subsidised housing (aka HDB) supposed to serve as?

A platform to extract a subsidy from the gahmen?

An asset you can monetise as a springboard to private property?

An investment vehicle for you to generate income?

Or

A means to good affordable housing for those who cannot afford it otherwise?

I suggest the last point is what it had started out to be and what it needs to get back to being.

Why are folk being tied up in knots now? Because we had tried to play public housing for what it was not intended to be. Problem is, the public housing subsidy is so pervasive that one would be at a competitive disadvantage not to have made use of it, and many people had, regardless of whether they could afford private housing or not.

Nothing fair or unfair about it. We were exploiting a loophole to the general detriment of the housing market and possibly contrary to financial prudence, and now the loophole is closed, cue howling and teeth-gnashing.

Not the what's and how's, but the why's.......

Well said.
So that's why there are more & more of those seminars and workshops organised by private companies that supposedly teach you the tips and tricks of taking full advantage of the loopholes, and make it so achievable and doable for ordinary working people to play the property investment game. Personally, i went to some of their previews and am curious ... Will you spend 2-3k over 2 days weekend to learn it? Has anyone attended such workshops? Please share ...

[sleepy]

Read in Straits Times 2 groups of buyers not affected. 1st time buyers and HDB owners without outstanding loan.


For HDB owners without outstanding loan, does that mean can continue the normal practice of - buy first sell later :scratchhead:

[jedamum]

sleepy:

Read in Straits Times 2 groups of buyers not affected. 1st time buyers and HDB owners without outstanding loan.


For HDB owners without outstanding loan, does that mean can continue the normal practice of - buy first sell later :scratchhead:

for the sentence in bold above, do you mean buying of private property for HDB owners? if so, my understanding is that if you have fully paid up your HDB, you can buy your private property without the current financial ruling restrictions (ie can loan up to 80%), and there is no restrictions to selling/keeping your HDB flat. correct me if i am wrong.

[radiantmum]

Add: Must meet minimum MOP

[vicki]

Pai Sey - just to clarify.


So, if you buy HDB, can you sell within the 5years? Aka, once you buy HDB, cannot dream of private until 5yrs later har?

[qms]

vicki:

Pai Sey - just to clarify.


So, if you buy HDB, can you sell within the 5years? Aka, once you buy HDB, cannot dream of private until 5yrs later har?

No, you can't sell as long as you have not met the MOP.

[RRMummy]

vicki:

Aka, once you buy HDB, cannot dream of private until 5yrs later har?

Hi vicki, that is my understanding too

[verykiasu2010]

RRMummy:

vicki:

Aka, once you buy HDB, cannot dream of private until 5yrs later har?

Hi vicki, that is my understanding too

if you own private ppty now, and buy HDB, then must sell your private ppty within 6 months

then must stay in HDB for 5 years before u can sell it or buy a private ppty again

but if you buy private ppty after the MOP of 5 years, you don't have to move out / sell your HDB

therefore : private ppty owner cannot buy a HDB to live in it in order to rent out the private ppty, while a HDB owner now can buy private ppty (after the MOP) and still live in HDB and rent out the private ppty. This to me is grossly unfair to penalise existing private ppty owner. Someone inside HDB is very vindictive